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Published on 14/03/2018 4:07:47 PM | Source: Reuters

World Bank plans to boost India lending by $1 billion every year for next 5 yrs: India head

Posted in Economy News| #India #Economy #World Bank

NEW DELHI  - The World Bank plans to raise lending to India by about $1 billion every year for the next five years from the current $3 billion to $3.5 billion, its country director to India said on Wednesday.

The lending will be mainly for infrastructure projects, Junaid Ahmad said.

Last November, India jumped into 100th place on the World Bank's ranking of countries by Ease of Doing Business for the first time in its report for 2018, up about 30 places, driven by reforms in access to credit, power supplies and protection of minority investors.

(Reporting by Manoj Kumar; Writing by Malini Menon; Editing by Sanjeev Miglani)